Improving NC state budget picture; begin restoring damaging cuts

4:44 PM,
May 17, 2013

Written by

Roger Hartley
OPINION

The April report of the state controller provides exciting news about our state budget picture. Our state revenue picture has improved by hundreds of millions of dollars of more than the past year. Over the past 10 months, income and corporate tax receipts have improved while sales tax revenues, the third-most important tax source, remain flat. After years of deep fiscal cuts, the improving economy has placed our state in a better financial position. If the economy continues to improve and consumer spending picks up, sales tax revenues would improve the already improving revenue picture.